Bitcoin, gold, physical money, stock markets and Bill Gates on a Snapshot
A nice post on howmuch.net yesterday titled 'The Bitcoin Economy, in Perspective.' It is well written by Raul with this wonderful pink infographic:
Does that sound overly dramatic? If the see-sawing rise of Bitcoin tells us anything, it is that people are losing their trust in money, and other traditional measures of wealth. Let's talk again when the total value of all cryptocurrencies surpasses that of the world's supply of gold...
This is a keen observation by its author, even though bitcoin looks so tiny right now.
So was Apple in 2000:
However, the other 'notable' financial news outlets are quick to supply us with their own wisdoms.
Sue Chang of marketwatch.com:
HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be even remotely relevant.
This kind of people would dismiss Apple as 'irrelevant' in 2000.
Tyler Durden of zerohedge.com trolls the same post with this ending paragraph in bold:
It’s far more likely that bitcoin crashes to $100 than rises to $1 million.
I am personally betting on BTC, ETH as AAPL and AMZN in the old year of 2000.
Sources: The Bitcoin Economy, in Perspective - howmuch.net
Apple Market Cap Vs. Exxon, Microsoft and IBM: 1981-2011 - wsj.com
Awesome post my friend!! So you are betting against BTC eh? I like that you challenge the rest of our mindsets and it is very possible... unless BTC and other cryptos gain massive massive market adoption..
Thanks, @itachi! Upvoted you.
Nope, my friend! I am putting my money where my mouth is: https://steemit.com/bitcoin/@longnshort/bitcoin-goes-to-ususd50-000-1-000-000-in-10-to-20-years
In this case, I am long, not short, BTC and ETH, and will hold on to both of them for a long time. Will add more cryptocurrencies along the way as I start to understand more and more about them.
Resteem
Thank you, @digitalplayer! Upvoted!
Resteemed this even tho it won't help much
Upvoted you!